Products October 16, 2012

ShareBuilder 401k Launches Fee Disclosure Tools

ShareBuilder 401k introduced online tools and resources to help plan sponsors and employees better understand their 401(k) fee disclosure statements and determine fee reasonabless.
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For plan sponsors, www.401kcomparison.com offers tools to help compare current 401(k) plan with a low-cost plan (priced at less than 1% in fees). The tool requests information from a plan sponsor’s new fee disclosure document and produces a five-year projection of the company’s current plan versus a low-cost plan, including both employer-paid and employee-paid expenses.

For participants, www.401kfeefighters.com tools aim to help calculate and understand 401(k) fees, and provides tips to help lower plan expenses and maximize 401(k) savings. It also includes tips about how to approach employers with ways to lower costs.

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A recent survey by ShareBuilder401k found that 83% of employers still have questions about their 401(k) fee disclosure notices and are unsure about next steps. (See “Fee Disclosures Cause Confusion.”)

“The new 401(k) disclosures are intended to provide greater access to and understanding of 401(k) plans, but a lot of confusion remains,” said ShareBuilder 401k President Stuart Robertson. “These new tools are designed to help employees and employers better understand their 401(k) plans and inherent costs—and most importantly, learn ways to lower fees so they’re positioned to save more for retirement.”

For more information, visit www.sharebuilder401k.com.

 

Products October 16, 2012

Mutual of America Expands Education Campaign

Mutual of America is expanding its current “Save More for Your Retirement” customer education campaign to shine a spotlight on National Save for Retirement Week.
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The campaign emphasizes the advantages of participating in a workplace retirement plan, including how it can help individuals save more and plan for a financially secure future.   

Throughout the week, and beyond, Mutual of America will conduct on-site group presentations for its clients and their employees, highlighting the following: 

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  • Advantages of tax-deferred savings; 
  • Importance of contributing and increasing contributions; 
  • Value of employer-matched contributions (if offered); and 
  • Convenience of saving through payroll deduction. 

In addition, the company will provide clients and their employees with an assortment of print and electronic materials that offer insight about saving for retirement and will spotlight educational articles and retirement calculators online at mutualofamerica.com.  

Congress has designated October 21 to October 27 as National Save for Retirement Week.

 

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